Health In Tech (NASDAQ:HIT) Trading Down 5.7% – Here’s What Happened

Health In Tech, Inc. (NASDAQ:HIT)’s stock price traded down 5.7% on Thursday . The company traded as low as $0.9937 and last traded at $0.9999. 163,956 shares were traded during mid-day trading, a decline of 30% from the average session volume of 234,423 shares. The stock had previously closed at $1.06.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Health In Tech from a “buy” rating to a “hold” rating in a research note on Sunday, November 16th. One research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2.50.

Health In Tech Trading Up 5.0%

The company’s 50 day moving average is $1.38 and its 200-day moving average is $2.23. The firm has a market capitalization of $59.75 million, a price-to-earnings ratio of 35.00 and a beta of 8.53.

Health In Tech (NASDAQ:HIT) last released its quarterly earnings data on Wednesday, November 12th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. The company had revenue of $8.49 million during the quarter, compared to analyst estimates of $7.05 million.

Hedge Funds Weigh In On Health In Tech

Institutional investors have recently modified their holdings of the business. Raymond James Financial Inc. acquired a new stake in Health In Tech during the third quarter worth approximately $45,000. Squarepoint Ops LLC purchased a new stake in shares of Health In Tech in the third quarter valued at about $46,000. Millennium Management LLC purchased a new position in shares of Health In Tech in the 3rd quarter worth approximately $85,000. Cubist Systematic Strategies LLC purchased a new position in Health In Tech in the first quarter worth $41,000. Finally, Jane Street Group LLC purchased a new stake in Health In Tech during the first quarter worth about $48,000.

About Health In Tech

Health in Tech, Inc engages in the provision of insurance technology platforms which offer a marketplace of processes in the healthcare industry. Its services include Stone Mountain Risk, eDIYBS, HI Card, HI Performance Network, and Ancillary Products. The company was founded by Tim Johnson in 2014 and is headquartered in Stuart, FL.